|
|
Article: Investing Abroad Is Not Always Good for Bank Balance, Says UK Tax Adviser.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- April 22, 2001
CopyrightCOPYRIGHT 2001 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
By Rob Griffin, Sunday Business, London Knight Ridder/Tribune Business News
Apr. 22--Siphoning your hard-earned fortune into an offshore account has traditionally been viewed as the most effective way of shielding your wealth from the beady eyes of the taxman.
Cyprus, Monaco, the Cayman Islands, Guernsey and sun-drenched Barbados have all earned reputations as tax havens by those wanting to fund luxury lifestyles without being stung for major contributions to the British government's coffers.
Very low income tax rates and, in many cases, the absence of both capital gains and inheritance tax has made them immensely attractive propositions in ...